Summit County is experiencing its lowest inventory since 2008. If you are thinking of listing your property, now is the time because variety is becoming more scarce. This is a unique time to be a buyer as well, because while inventory is shrinking mortgage rates are still low and pricing is still competitive. Summit County saw a record number of skiers last year with an anticipation of this 2014-2015 showing even more promise for skier visits. Mountains are expanding terrain and skiers are responding. I have provided a graph below to illustrate what is happening with inventory in our market. The current market is showing great signs of stability, if you have more questions on the market, I would be happy to provide you with as much information as you need.
1) You will use the property you buy all the time. That pass you bought will go toward multiple powder runs, miles of mountain biking trails await in the summer (beat the Denver heat) and it will create a convenient weekend getaway for front rangers with family, snow hounds and groups of friends. We are Coloradans, LIFESTYLE people, LIFESTYLE.
2) Rent it out when you aren’t using it. I have a wealth of knowledge and a close relationship with some of the best property management companies in the county, and can help you choose a rental company which will create the most bang for your buck.
3) You can afford it. Financing has started to ease up since the market crash in 2008 and a lot of people are splitting the cost by investing with family members or long time friends. Yes, Breckenridge is known for having high end properties, and there are also plenty of practical options for the buyer looking to get a foot in the market.
4) Capitalize on what you have already found out, Colorado is awesome. The Denver real estate market is booming. Breckenridge tends to follow just behind what the Denver market does, which means now is the time to buy as demand increases with more and more people wanting to move to Denver and surrounding areas. Breckenridge inventory is shrinking, get in the market before everyone else does.
According to National Association of Realtors, “vacation home sales were up 29.7 percent over 2012, with 38 percent of buyers paying cash, according to NAR’s 2014 Investment and Vacation Home Buyers Survey. Vacation home sales accounted for 13 percent of all transactions last year, their highest market share since 2006.” With Breckenridge expanding Peak 6 and visitor numbers at record high, the mountain real estate market is positioned for a decrease in inventory which we are already seeing here in beautiful Summit County. With activity increasing across the board, there has never been a better reason to take advantage of the multitude of recreation Summit County has to offer.
On that note, hello, my name is Kijah Hanson. I have been serving the Summit County real estate market for over 9 years. I have been involved with large developments such as Water House on Main Street and Crystal Peak Lodge. While I have extensive development knowledge and experience in property management as well as residential, my favorite part of selling real estate in the mountains is exposing people to the top notch lifestyle we live here as locals. Whether it is helping a local find their family home in Breckenridge, a client looking for the best biking, camping or powder stashes or an investor looking for an investment property, I can help you reach your goals. Please feel free to explore my website and email or call me if you have any questions. Look for more blogs in the future!